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"Cutting fees is just as important as cutting taxes. But because there is a lot of flexibility with fees, some companies may work on finding loopholes to help them avoid paying. Yet by doing so they are also paying the cost of taking a risk," he said.

"Chinese travelers on average took only 0.4 flights in 2016, a quarter of the United States. But China has a population more than four times the latter, providing enormous room for growth," Chen said.

"China's online education will enter a boom period where different firms are expected to thrive soon. In the K12 or kindergarten to 12th grade sector, leading companies will likely dominate the market," said a recent report from CITIC Securities.

"China's appetite for consumer goods－on steroids post-COVID－continues to amaze the rest of the world," said Jacques Penhirin, the Oliver Wyman partner who led the survey.

"Currently, there's not enough regulation," Zhu said, adding that it's necessary to set up an industry association to supervise the use of deposits.